Estos sobrevivirán (China is Facing a Rising Economic Crisis of Non-Emerging Consumers):
BEIJING — Contrary to what many Chinese columnists say, the real challenge facing the economy is not how to make consumers spend more, but how to make consumers in the first place.
But low consumption (low in terms of its share in total GDP) has been a chronic symptom of this economy. Recognizing it is easy. But treating it is hard. And until now, China hasn’t found the magic pill.
Economists say that from 2003 to 2008, as investment contributed an average 42-plus percent of GDP, consumption’s share was not more than 38 percent, with the rest of the economy being driven by exports. In contrast, in most developed economies, the share of consumption is usually about 70 percent, if not more.